Giftify, Inc. (NASDAQ:GIFT) Sees Large Increase in Short Interest

Giftify, Inc. (NASDAQ:GIFT) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 26,000 shares, a growth of 84.2% from the February 26th total of 14,115 shares. Based on an average daily trading volume, of 94,499 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are sold short.

Giftify Stock Performance

Shares of GIFT traded down $0.03 during mid-day trading on Friday, hitting $0.86. The company’s stock had a trading volume of 40,730 shares, compared to its average volume of 96,266. Giftify has a one year low of $0.74 and a one year high of $2.38. The stock’s 50-day moving average is $0.96 and its two-hundred day moving average is $1.04. The firm has a market capitalization of $29.07 million, a PE ratio of -2.47 and a beta of -1.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.53 and a current ratio of 1.03.

Giftify (NASDAQ:GIFT) last announced its quarterly earnings data on Wednesday, March 18th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The firm had revenue of $21.22 million for the quarter, compared to analyst estimates of $19.60 million. Giftify had a negative return on equity of 48.57% and a negative net margin of 12.61%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Giftify in a report on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Giftify has an average rating of “Sell”.

Institutional Trading of Giftify

Several large investors have recently made changes to their positions in GIFT. Henrickson Nauta Wealth Advisors Inc. bought a new stake in shares of Giftify during the 3rd quarter valued at $160,000. Blair William & Co. IL lifted its stake in Giftify by 280.0% in the third quarter. Blair William & Co. IL now owns 95,000 shares of the company’s stock valued at $101,000 after buying an additional 70,000 shares during the period. Finally, Susquehanna International Group LLP lifted its stake in Giftify by 62.1% in the third quarter. Susquehanna International Group LLP now owns 45,007 shares of the company’s stock valued at $48,000 after buying an additional 17,234 shares during the period.

About Giftify

Giftify, Inc (NASDAQ: GIFT) is a US-based technology company specializing in digital gift solutions for businesses across retail, hospitality and corporate sectors. The company’s cloud-based platform enables brands and organizations to create, distribute and redeem e-gift cards and e-vouchers through multiple channels, including email, SMS and API integrations. By offering a turnkey solution for branded gifting campaigns, Giftify helps clients drive consumer acquisition, retention and incremental revenue.

Central to Giftify’s offering is a suite of management tools that enable real-time tracking of gift card inventory, performance analytics and customer engagement metrics.